Sunday, December 23, 2012

Long Term Care Basics that You Must Know Of

Long term care involves a wide range of services that helps people perform mundane activities of daily living such as bathing, eating, dressing, toileting, transferring and continence. According to the Department of Health and Human Services, long term care will become inevitable to at least 70% of people aged 65 and older. The very high probability of us needing such kind of care makes it important for us to know more about it. Below are some long term care basics that we must be aware of.

Where to Receive Long Term Care

Depending on an individual’s preferences, budget and need, long term care services can be received in the home, community or in long term care facilities such as nursing homes and assisted living. Individuals who need help in performing ADL but do not require round the clock attention can receive care in their homes.

However, when their condition progressed, they must be transferred to facilities which provide a more intensive level of care. Some may continue to receive care in their homes but they must hire a professional caregiver who can provide the level of care they need. Buying assistive devices and modifying the home may also become necessary.

Costs of Long Term Care

One of the most expensive types of services in the healthcare industry is long term care. Its costs can easily wipe out the life savings of an individual who has not planned for it. Long term care expenses also consume at least a third of the entire Medicaid budget. An individual who does not have long term care insurance and do not qualify for government assistance must be prepared to pay close to $100,000 a year if he has to receive care in a nursing home. The table below indicates the average costs of long term care services in America for the year 2012.

2012 Cost of Care Survey by Genworth Financial

$18/hour for homemaker services

$19/hour for home health aides

$61/day for adult day care centers

$3,300/month for assisted living facilities

$200/day for semi-private room accommodation in a nursing home

$222/day for a private room in a nursing home

With these very high costs, we must plan how to pay for it. To plan effectively, try to learn more long term care basics at www.infolongtermcare.org.

People with no private insurance can still receive long term care through government long term care. Through Medicare, Medicaid and other federal programs, people can receive extended care and assistance with their daily living activities.